About Lifan | Lifan Power USA - Power Equipment
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Lifan Group
Lifan Industry (Group) Co., Ltd. (Lifan Group or Lifan, Chinese: 力帆, lit. 'Power Sail') is a civilian-owned Chinese motorcycle and automobile manufacturer headquartered in Chongqing, China. It was founded in 1992 and began to manufacture automobiles in 2005, starting with license-built microvans and a small sedan developed by Lifan. Lifan's vehicle products include passenger cars, microvans, dirt bike engines, entry-level motorcycles, mini-vehicles, and commercial trucks. The company's non-vehicle-related activities include the manufacture of sports shoes and winemaking.
Outside of China, Lifan is best known for the sale of small passenger cars in emerging markets. Lifan's KPR bikes have won the China Road Racing Championship (CRRC) 17 times. Lifan is one of the major manufacturers of the Predator engine.
History
A Lifan truck, 2009
Lifan was founded by former political dissident Yin Mingshan in 1992 as a motorcycle repair shop with a staff of nine. Mingshan has a long history of conflict with government authorities but currently enjoys a positive relationship with the Chinese Communist Party. The company was originally called "Chongqing Hongda Auto Fittings Research Centre." It was renamed Lifan Industry Group in 1997. The company expanded into building buses in 2003. As of 2004, Lifan was referred to as "the largest private motorcycle manufacturer in China." By 2009, it was the fifth-largest Chinese motorcycle maker.
In 2003, Lifan acquired Chongqing Special Purpose Use Vehicle Manufacturing Co. Ltd., and in 2005 began automobile production with the LF6361/1010 minivan and pickup based on the 1999 Daihatsu Atrai. In December 2005, Lifan's first independently developed car, the 520 sedan with a Brazilian Tritec engine, entered production. As of 2011, Lifan's offerings included the subcompact 320, the compact sedan and hatchback 520, the mid-sized 620 sedan, and the X60 compact SUV.
Lifan made an IPO on the Shanghai Stock Exchange in late 2010. In 2011, Lifan's exchange-listed entity announced revenue of US$1.83 billion and profits of US$62 million. On July 4, 2014, Lifan entered into an agreement with Italian motorcycle manufacturer MV Agusta to be MV Agusta's sole distributors in China. Founder Yin Mingshan and his family were worth US$1.3 billion as of 2014. In 2018, Lifan raised approximately 4 billion yuan by selling land to the government and unit Lifan Motors to electric vehicle startup Li Auto.
As of 2020, Lifan's debt totaled 31 billion yuan ($4.4 billion) in June 2019, with 60% due within a year, while assets stood at 41.5 billion yuan. News of Geely planning to take over Lifan surfaced, targeting the market share in the southwest which Lifan mainly dominates.
Trademark Dispute with Honda Motor
In 2004, Lifan was ordered to cease selling motorcycles under the brand name "Hongda" after a successful lawsuit brought by Honda Motors. That same year, Honda initiated a separate suit against Lifan for using badges similar to Honda's on its motorcycle products.
Geely Acquisition
On December 13, 2021, Geely Automobile announced plans to jointly invest in a joint venture company with Lifan Technology. Each company will invest 300 million yuan in the target company, holding 50% of the shares each. This means that Geely will account for 34.7% of Lifan Technology's total shares, making Geely the controlling shareholder. The joint venture will manufacture electric vehicles using Geely's existing platforms under the Maple brand. As of January 2022, Geely announced plans to build a battery swap ecosystem for electric cars in collaboration with Lifan. The first compatible car, the Maple 60S, was launched in February 2021.
Products
Motorcycles
Current and former Lifan motorcycle products include:
Automobiles
Current and former Lifan automobile products include:
Gallery
Operations
Production Facilities
Lifan has two passenger-car assembly plants in China. Lifan also has motorcycle production bases in Thailand, Iran, Turkey, and Vietnam. Lifan established a presence in Vietnam in 1999, making motorcycles and parts. In March 2007, assembly of the 520 sedan started in Vietnam. By mid-2009, the 320, 520i, and 620 had also been built or assembled in the country. Overseas assembly factories make Lifan-branded automobiles sold to domestic audiences but are not necessarily affiliated with Lifan in any way.
In early 2010, Lifan established an automobile assembly factory in Azerbaijan. Assembly has also occurred in Egypt. From 2007 until 2010, the Lifan 520 was assembled in Ethiopia from imported knock-down kits under the name "Abay" by Holland Car Company. Cars assembled in Ethiopia may now bear the Lifan name, and an after-sales service center for Lifan automobiles exists in Addis Ababa. As of 2016, Lifan continues to produce in Ethiopia, assembling cars with native-born labor from knock-down kits. Five different models can be made at the current facility, set up in 2014, with sales totaling fifty cars a month at prices ranging from $15,000 to $30,000.
Lifan was assembling cars in Iran around 2010. In Russia, assembly of automobiles began in August 2007, and in early 2011, the 320 model became the third Lifan product to see local production. In 2010, a 40,000 units/year production capacity assembly plant was established in Uruguay.
Research and Development
At the end of 2006, Lifan held over 3,800 patents, the largest number of any Chinese automobile company, of which at least 346 were held by Lifan's automobile division.
Sales
Access to profitable export markets, allowed by the Chinese State in 1998, means that this maker of automobiles and motorcycles sells in developed overseas markets like the EU, Singapore, and Japan. While finding more markets for its motorcycle-related products, Lifan has exported passenger cars to 51 countries. In 2010, its automotive exports were rivaled only by Chery. The company has sold in many countries and on every continent except Antarctica.
Allowed access in 2003, Lifan motorcycle products are sold in 18 European countries. The Italian importer Martin Motors rebadges and sells two small Lifan passenger car models under its own name. Lifan has sold motorcycles in Japan since 2001. Lifan automobiles have been sold in Laos and Syria since 2009. Lifan motorcycles and dirt bikes are available in Canada and Mexico. As of 2009, a single model was on offer in Mexico.
Some small passenger car models are sold in Brazil, Guatemala, Peru, and Uruguay. Some of the cars Lifan exports are in the form of knock-down kits. Put together in small, local workshops, selling such kits is an easy way for the company to gain access to developing markets.
Lifan was formerly the owner of the Chinese Super League football team Chongqing Lifan. Since 2005, it has been a sponsor of the team.
References
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